Fri, 08 Apr 2011 | ADMINISTRATION
R&D Construction, one of the biggest building companies in southern Scotland has entered administration, just days after employees raised concerns that their wages had not been paid.
Administrators from Ernst and Young have been appointed to the Dumfries-based company, which ha a staff roster of 220 and supports a number of sub-contractors. The administrators are carrying out a comprehensive review of the financial position, with a view to trying to sell as much of the company as possible as a going concern.
Ernst and Young's Andrew Davison, said, "Difficult trading conditions arising from low demand in the private housing market that were further exacerbated by the harsh winter necessitated our appointment."
The company had been the main contractor for the multi-million pound Dumfries and Stranraer housing renewal programme, that is being backed by the Dumfries and Galloway Housing Partnership (DGHP), the Scottish government.
DGHP's director of investment, James Shirazi, said they had been extremely pleased with the company's work on the project so far and were hoping that the company could be maintained in some way, to preserve both the excellent standard of service they had been receiving and all of the jobs of the workers.
This financial advisory firm has an infrastructure in place to carry on operating profitably post-sale.
Hertfordshire based IFA with 75% of the business' assets with two major platforms, ensuring a smooth transition post-sale.
This firm has an average portfolio size per household above £0.5m, meaning you will be servicing high quality, profitable clients.
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